2,518 Shares in Okta, Inc. (NASDAQ:OKTA) Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC bought a new position in shares of Okta, Inc. (NASDAQ:OKTA) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 2,518 shares of the company’s stock, valued at approximately $265,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in Okta by 52.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,126 shares of the company’s stock valued at $956,000 after acquiring an additional 4,171 shares during the period. Merit Financial Group LLC acquired a new position in Okta in the first quarter valued at about $823,000. Greenwood Capital Associates LLC grew its stake in Okta by 165.7% in the first quarter. Greenwood Capital Associates LLC now owns 7,048 shares of the company’s stock valued at $742,000 after acquiring an additional 4,395 shares during the period. FNY Investment Advisers LLC grew its stake in Okta by 433.3% in the first quarter. FNY Investment Advisers LLC now owns 4,000 shares of the company’s stock valued at $420,000 after acquiring an additional 3,250 shares during the period. Finally, GAMMA Investing LLC grew its stake in Okta by 37,287.3% in the first quarter. GAMMA Investing LLC now owns 126,369 shares of the company’s stock valued at $13,297,000 after acquiring an additional 126,031 shares during the period. 86.64% of the stock is owned by institutional investors and hedge funds.

Okta Price Performance

NASDAQ:OKTA opened at $99.09 on Friday. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $109.28 and its two-hundred day moving average price is $100.30. The firm has a market capitalization of $17.35 billion, a price-to-earnings ratio of 157.29, a P/E/G ratio of 4.75 and a beta of 0.82. Okta, Inc. has a 12-month low of $70.56 and a 12-month high of $127.57.

Okta (NASDAQ:OKTA) last released its quarterly earnings data on Tuesday, May 27th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. The firm had revenue of $688.00 million for the quarter, compared to analyst estimates of $680.14 million. Okta had a return on equity of 2.79% and a net margin of 4.85%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, analysts anticipate that Okta, Inc. will post 0.42 earnings per share for the current year.

Analyst Upgrades and Downgrades

OKTA has been the subject of a number of research analyst reports. UBS Group decreased their target price on Okta from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Mizuho decreased their target price on Okta from $135.00 to $130.00 and set an “outperform” rating for the company in a research note on Wednesday, May 28th. BTIG Research restated a “buy” rating on shares of Okta in a report on Thursday, May 22nd. Guggenheim cut their price target on Okta from $140.00 to $138.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Finally, JMP Securities restated a “market perform” rating on shares of Okta in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $121.59.

Insider Buying and Selling at Okta

In other Okta news, insider Larissa Schwartz sold 2,244 shares of the company’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $100.00, for a total value of $224,400.00. Following the sale, the insider owned 23,640 shares in the company, valued at $2,364,000. This represents a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Jonathan James Addison sold 7,005 shares of the company’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $101.19, for a total value of $708,835.95. Following the completion of the sale, the executive owned 19,067 shares in the company, valued at $1,929,389.73. This represents a 26.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,935 shares of company stock worth $1,100,347 over the last 90 days. Company insiders own 5.68% of the company’s stock.

Okta Company Profile

Okta, Inc operates as an identity partner in the United States and internationally. The company offers Okta's suite of products and services used to manage and secure identities, such as Single Sign-On that enables users to access applications in the cloud or on-premises from various devices; Adaptive Multi-Factor Authentication provides a layer of security for cloud, mobile, web applications, and data; API Access Management enables organizations to secure APIs; Access Gateway enables organizations to extend Workforce Identity Cloud; and Okta Device Access enables end users to securely log in to devices with Okta credentials.